Universal Insurance (NYSE:UVE) Stock Price Up 9.6% After Earnings Beat

Universal Insurance Holdings, Inc. (NYSE:UVE)’s share price was up 9.6% on Wednesday following a better than expected earnings announcement. The stock traded as high as $22.49 and last traded at $22.49. Approximately 253,082 shares traded hands during trading, an increase of 95% from the average daily volume of 129,611 shares. The stock had previously closed at $20.51.

The insurance provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The company had revenue of $384.81 million for the quarter, compared to analysts’ expectations of $349.91 million.

Universal Insurance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.86%. This is a positive change from Universal Insurance’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 7th. Universal Insurance’s dividend payout ratio is presently 26.02%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Insider Transactions at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 25,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the completion of the transaction, the director now directly owns 383,228 shares of the company’s stock, valued at approximately $7,905,993.64. This trade represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Sean P. Downes sold 50,000 shares of Universal Insurance stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the sale, the chairman now owns 985,320 shares of the company’s stock, valued at approximately $20,208,913.20. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UVE. Covestor Ltd grew its holdings in shares of Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 1,328 shares during the last quarter. Quarry LP lifted its position in shares of Universal Insurance by 55.6% during the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 776 shares during the last quarter. CWM LLC boosted its stake in Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after purchasing an additional 723 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Universal Insurance during the 4th quarter worth about $103,000. Finally, Quantbot Technologies LP lifted its position in Universal Insurance by 45,981.8% in the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider’s stock worth $107,000 after buying an additional 5,058 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Universal Insurance Stock Up 9.0 %

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $20.01 and its two-hundred day moving average price is $20.68. The firm has a market cap of $632.19 million, a P/E ratio of 9.09 and a beta of 0.91.

About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.